In a striking move, Nigerian entrepreneur Dozy Mmobuosi, facing a damning judgment in a US securities fraud case that led to the collapse of his Tingo Group, has launched what is claimed to be Africa’s first fully AI-powered radio station in Lagos. The launch of Tingo AI Radio 102.5 FM, just months after a US court ordered Mr. Mmobuosi to pay over $450 million in penalties, has raised eyebrows and questions about the future of his ventures.
Broadcasting from a state-of-the-art facility in the upscale Victoria Island area of Lagos, the station launched on Valentine’s Day, promising a blend of AI technology and Afro-centric content. “AI provides opportunities to enhance productivity,” he stated, at the launch of the event, adding that all AI-generated content would be “entirely Nigerian,” with AI agents fluent in local languages and accents.
Tingo AI Radio’s technology, purportedly developed by a team led by CTO Abraham Samuel, streamlines operations from news direction to sound engineering, aiming to minimize human interaction. The system, the company claims, uses AI for everything from DJing to sound engineering, allowing listeners to interact with a virtual DJ and request personalized playlists. Interviews are pre-recorded using AI voice cloning, a process it claims drastically reduces studio time. While weather forecasts and news bulletins are live, other programming utilizes this hybrid approach.
The launch of the radio station comes as Mr. Mmobuosi faces the fallout from a recent US Securities and Exchange Commission (SEC) investigation. In September 2024, the US District Court for the Southern District of New York found Mr. Mmobuosi and his companies, including Tingo Group, Agri-Fintech Holdings, and Tingo International Holdings, liable for extensive violations of US securities laws and fraudulent practices. The SEC’s complaint, filed in 2023, detailed a range of fraudulent activities, including violations related to fraudulent conduct in securities transactions and false statements.
Mr. Mmobuosi and his companies failed to respond to the charges, leading to a default judgment. The court permanently enjoined him and his companies from violating key provisions of US securities laws. He is now barred from serving as an officer or director of any publicly traded US company and from participating in penny stock offerings. The judgment also ordered him and Tingo International Holdings to disgorge over $251m in illicit profits and forfeit a $204m promissory note. Shares in Agri-Fintech owned or controlled by Mr. Mmobuosi were also ordered to be cancelled.
The SEC’s action followed the dramatic collapse of Tingo Group. Local media reports suggest Tingo Mobile, the group’s fintech arm, had laid off contractors earlier in 2024, with some going unpaid for months. The company’s website has since become inactive.